NXDR vs VXZ: Correlation
How closely do Nextdoor Holdings, Inc. (NXDR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXDR and VXZ?
Across a 3-year window, the weekly returns of NXDR and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.28, with an annualized covariance of -355.0 %².
Out of 15 assets tracked against NXDR, VXZ lands near the bottom at #13. The last year tells two different stories: NXDR led by 26.1 percentage points, +10.0% for NXDR against -16.1% for VXZ. Note the risk asymmetry: NXDR runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
NXDR vs VXZ: side by side
| NXDR (Nextdoor Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.0% | -16.1% |
| 5-year return | -82.2% | -53.1% |
| Volatility (ann.) | 54.0% | 25.6% |
| Beta vs S&P 500 | 1.65 | -1.31 |
| Max drawdown (3Y) | -53.6% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXDR | VXZ |
|---|---|---|
| 2022 | -73.9% | +0.5% |
| 2023 | -8.3% | -44.0% |
| 2024 | +25.4% | -12.7% |
| 2025 | -11.4% | +5.7% |
| 2026 | +10.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXDR and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between NXDR and VXZ?
The NXDR/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.26, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NXDR?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nxdr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nxdr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NXDR correlations · VXZ correlations
